Snap's smart sunglasses might not be ubiquitous, but it's a million-dollar "modest" business for the camera company.
ADVERTISEMENT
Snap took in $8 million from the sale of its Spectacles (SNAP)
Snap's Spectacles sunglasses are a multi-million dollar business for the company.
null
Snap Inc CFO Drew Vollero said the sale of Spectacles were the majority of the company's $8.3 million "other" revenue in Q1. The company generated $149.9 million in revenue overall in the first quarter of 2017.
When Snap launched Spectacles in September, the camera-recording sunglasses were only available for sale through Snapbots, a traveling vending machine that would pop up in random cities.
In the first quarter though, Snap made Spectacles widely available for the first time online. Vollero said that's turned into a "modest" business for the company, generating over $8 million in revenue for the company. At the selling price of $130, that suggests that Snap sold over 60,000 pairs of Spectacles during the quarter.
ADVERTISEMENT
However, that hasn't turned into too many people using them. Over 5 million snaps have been created by Spectacles to date on the platform, Snap CEO Evan Spiegel noted on the call. That's a minuscule number compared to the 3 billion snaps produced a day on Snapchat.
Still, Spiegel said the company will continue to explore new technology and remains excited about Spectacles.
"It’s been really exciting to see people capture memories from their perspective," Spiegel said.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT